January News You Can Use

Houston Home Sales Slightly Increase in December

It was a topsy-turvy second half of 2018. Thankfully, December ended with more total property sales than the previous month. On a yearly basis, 2018 showed a 3.7% increase in total property sales compared to 2107. Sales in most price ranges rose in December, while the number of active listings and months of inventory decreased.

REMEMBER TO FILE FOR A HOMESTEAD EXEMPTION BEFORE APRIL 30, 2019

If you purchased a property prior to January 1, 2019; (2) you occupied it as your principal residence on January 1st; and (3) you and your spouse do not claim a residence homestead exemption on any other property, you could be eligible for a property tax exemption. Make sure you file by April 30, 2019.

Loan Limits Increase in 2019

The Federal Housing Finance Agency (FHFA) has issued the maximum loan limits that will apply to conventional loans to be acquired by Fannie Mae in 2019. The new base loan limit in all Texas counties is now$484,350.This is a 6.9% increase over the 2018 limit.

Ex: A buyer purchasing a home for $535,000 can get a conventional loan (not jumbo) for approximately 10% down.

Leslie Lerner Properties understands that buyers and sellers are tired of having to account for high commission rates when budgeting for their home sale and/or purchase. That is why we have put our clients first by implementing flat fee listings and rebated real estate commissions.